Auto car insure

A week after New York resident Juan Thomas bought a 2004 BMW 745i, in December 2012, the bank that financed the purchase—Wells Fargo—contacted him to say that he needed additional auto insurance for the vehicle. This was a bit odd, mainly because the car was already insured. “It didn’t sound right to me,” Thomas said. A month later, he heard again from a Wells Fargo representative, who again claimed his car wasn’t insured. Soon after, he received a bill and found that Wells had placed a collateral protection insurance policy on his account. “From then on, my [cost] just kept going up going up,” Thomas said in an interview. He repeatedly spoke with Wells Fargo representatives, sent along proof of his insurance, but nothing changed. With the insurance, Wells increased his monthly payment from $413.48 to about $600, at first, to, eventually, $1,000. “It seemed like I was never going to get out of debt for this car,” Thomas said. … [Read more...] about How Wells Fargo Screwed $80 Million Out Of Customers Using Unnecessary Car Insurance

CAR insurance premiums have dropped for the first time in three years - but Brits say they haven't noticed the difference. The average annual policy now sits at £768 - down by £13 from 12 months ago, according to latest figures. Reforms on injury payouts and whiplash laws have seen insurers slash prices. But 70 per cent of drivers said their renewal quote has actually gone up. And Confused.com's price index report found it was down to motorists staying with the same insurer. Figures show Brits pay an average £45 "loyalty tax" by not shopping around each year. How to cut your car insurance premium Never auto-renew: You can knock potentially hundreds of pounds off your annual bill by not letting your premium auto renew and going with a new insurer instead. Under new rules brought in last year insurers have to show clearly how much you paid last year so you can see how much more you'll be paying. Check your job title: Recent research found drivers could be … [Read more...] about Car insurance is CHEAPER than a year ago but 70 per cent said their premium went up – here’s how to cut your costs

Car insurance costs have fallen – very slightly – for the first time in three years, according to new data. Analysis of more than six million quotes from Confused.com shows that the average premium across the UK has dropped by £13, or two per cent compared with last year. The news comes after three years of constant rises that had pushed the average cost of a comprehensive premium to £781. Regional variations As usual, though, the good news on average figures hides mixed outcomes for for specific groups. Motorists living in inner London enjoyed the biggest fall in costs, down by six per cent year-on-year, but still are the only group to pay an average of more than £1,000 regardless of age. At the opposite end of results, drivers in Scotland were hit with an average increase of six per cent and those in central and north Wales also suffered a two per cent rise in premiums. Certain age brackets also bucked the trend, with 68-year-olds hardest hit by increases. … [Read more...] about Car insurance costs fall but loyalty doesn’t pay for drivers

MILLIONS of Brits are making a simple mistake when it comes to their car insurance, costing them up to £278 each year. Motorists that fall into the trap of automatically renewing their insurance policy or staying with the same provider can end up paying more than they would if they shopped around. According to research conducted by MoneySuperMarket, over 60 per cent of drivers will stick with their current policy holder because they had the cheapest price the previous year. But the move ends up contributing to a total £652.5million that Brits waste for failing to check out other providers. The study found that motorists who let their policy automatically renew saw their premiums rise by £50 on average - but that figure could be as much as £278. If drivers shop around when it comes time to renew their policy, they could see maximum savings of close to £280. Top reasons for motorists auto-renewing their car insurance rather than changing providers Happy with the … [Read more...] about The easy way to save up to £278 on your car insurance that millions ignore every year

Motorists in the UK are still throwing £652.5 million a year away by auto-renewing their car insurance – despite an FCA rule change last year designed to protect motorists from the so-called ‘loyalty tax’. But there’s a simple step that could save motorists an average of £278.49 per year. With a third of Brits still automatically renewing their car insurance policy with their existing insurer, instead of shopping around and potentially saving money, millions are being hit by avoidable increases in their annual premiums. A typical annual increase of £50 per policy means £652.5 million going down the auto-renewal drain every year, where as motorists who avoid the ‘loyalty tax’ and shop around could see average savings of up to £278.49 each – or £3.6 billion collectively. Increased transparency This month marks a year since the Financial Conduct Authority (FCA) auto-renewal bill changes came into force, but research … [Read more...] about The simple car insurance trick that could save you £278.49 a year